Inflow into crypto investment products from November 11 to 17 amounted to $175.6 million. Over the last eight weeks, investors have poured a total of $1.32 billion, according to the report CoinShares.
“The pace remains well below the levels seen in 2021 and 2020, which stood at $10.7 billion and $6.6 billion respectively,” the analysts calculated.
Trading volumes of crypto-ETP doubled, to $3 billion.
Bitcoin-linked products drew $154.7 million, compared with $240 million in the previous period. The inflow over the last eight weeks amounted to 3.4% of AUM ($30.78 billion).
Among structures that allow short exposure to the first cryptocurrency, clients of asset managers withdrew $8.5 million, compared with $7 million a week earlier.
Analysts linked the persistence of the trend to expectations that the SEC would approve the spot Bitcoin-ETF.
Ethereum-focused funds attracted $3.3 million after peaking at $49.1 million in August 2022 in the previous reporting period.
Solana-based instruments again stood out, with $13.6 million vs $12.4 million a week earlier.
Earlier, K33Research analysts recorded a record asset volume in Bitcoin products (204,170 BTC).
Matrixport had forecast the price of the first cryptocurrency $40,000–$45,000 in 2023.
Earlier, analysts warned that Bitcoin shorts would be hit by ‘Santa Claus squeeze‘.